Russian stocks seen growing on high oil prices

MOSCOW, Jul 19 (PRIME) -- The Russian stock market will likely open higher on Wednesday, as oil prices remained at the level achieved during recovery of Tuesday, analysts said.

"We expect a positive mood to persist on the Russian market today. A better situation on the fuel market may support purchases in the local securities shaping their further rise," senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

"As a result, the MOEX Russia Index will continue to hit local maximums and may make one more step towards the 3,000 notch," the analyst said.

The nearest Brent futures corrected downwards by 0.2% to U.S. $79.4 per barrel on Wednesday in the morning.

BitRiver financial analyst Vladislav Antonov said that the Brent price rise was unstable caused by weakening of the U.S. dollar and the U.S. statistics.

Zvarich qualified the global market mood in the morning as neutral, as the leading Asian floors were mixed, while the key U.S. indexes futures consolidated near Tuesday’s closing.

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